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Gold storage at home: Check out limit, government rules, taxes and more

What The Law Says?

Technically, there is no limit up to which one can own gold jewellery or ornaments in India.

However, married women In India can keep up to 500 grams of gold jewellery and ornaments, without any proof. For unmarried women, the maximum amount of physical gold they can keep at home is 250 grams. Men are only allowed to keep up to 100 grams irrespective of their marital status.

Anything kept beyond these limits without required income proof, will be subject to investigation and possible seizure.

That said, gold coins and bars can be seized even if they fall within the specified limit if there are no necessary documents to prove their acquisition, according to Chartered Club, a tax-related information platform.

Source: Outlook Money, Times of India


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